Developers starting new apartment community at Dallas' Midtown Park

Dallas’ Provident Realty Advisors and investor Kroenke Group have been busy the last few years selling land in the 80-acre Midtown Park development in North Dallas.

Provident and Kroenke bought the land out of foreclosure in 2011.

Since then, they’ve sold property for apartments, townhouses, a seniors community and other projects in the development near North Central Expressway and Meadow Road.

Now, Provident and Kroenke are starting their own deal – a 302-unit apartment community.

The $40 million development is going up at Meadow and Rambler Roads.

“The site was retained by the partnership for development when the rest of the 80-acre Midtown Park property was sold,” Provident CEO Leon Backes said. “Designed by JHP Architecture, the community will include three four-story buildings and a parking garage.”

Apartments in the new project will range in size from 590 square feet to 1,552 square feet.

Provident’s new rental community is going up in the same area where A San Antonio developer Embrey Partners is building 16 apartment buildings with almost 400 rental units along Manderville Lane.

And at the entrance to Midtown Park on North Central, a real estate investment company owned by Dallas businessman Carl Westcott has kicked off construction on the 274-unit Mark at Midtown Park apartments.

Provident and Kroenke are the same two companies doing the big Preston Hollow Village apartment, retail and office project at the northwest corner of North Central and Walnut Hill Lane.